Friday 25 September 2015

11am update - battling it out

The US equity market is rather fiercely battling it out in the sp'1945/50 zone, with VIX remaining moderately lower in the 22/21s. USD is holding gains of 0.4% in the DXY 96.30s. Metals remain weak, Gold -$8. Oil is +1.4% in the $45s.


sp'60min



VIX'daily2


Summary

*I am looking for a closing green candle on the VIX 'rainbow' chart.
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So... what now? Its the typical morning turn time of 11am... bulls will be vulnerable for the next 3 hours or so. A foray into the sp'1930s looks a given by 1pm... but the real issue is whether we see a secondary wave higher to >1955... or instead.. close moderately lower.

A red close would be particularly bearish.. considering the broader price structure...

The bull maniacs need a close >1958 for a net weekly gain... that doesn't look as easy as it did in pre-market.

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Update from Oscar



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stay tuned